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(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Jisun] Boryung announced on the 4th that it will conduct a third-party allotment, raising 175 billion KRW (approximately $130 million) by issuing new shares to Boryung Partners. Boryung Partners, a private entity owned by Boryung CEO Kim Jung-gyun, holds a 69.1% stake in Boryung Biopharma, an affiliate within the Boryung Group.
The new issuance will consist of 18,097,207 common shares at an issue price of 9,670 KRW per share. The payment date is set for the 13th, and the new shares are expected to be listed on the 29th.
Boryung plans to use the capital to expand its facilities and strategic essential medicine business, including procurement, supply, and distribution, while also investing in long-term ventures aimed at enhancing national and corporate competitiveness. Boryung envisions expanding its business model of acquiring, supplying, and distributing essential medicines into overseas markets to establish a foundation for a large-scale global contract development and manufacturing organization (CDMO) business.
The company will also continue investing in its space-related initiatives, which began in 2022, focusing on developing infrastructure essential for prolonged human space habitation. This effort aims to strengthen Boryung’s long-term competitiveness and contribute to the growth of South Korea’s space industry.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
